Kawasaki Heavy Industries,Ltd., The Current Fiscal Year Net Income Revised Downward by 6%

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Fri Nov 8, 2024 11:30 am JST Earnings

7012 Kawasaki Heavy Industries,Ltd. 【IFRS】

Earnings Report

Kawasaki Heavy Industries,Ltd. <7012> [TSE-P] announced its financial results (based on IFRS) at noon (11:30) on November 8th. The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 13.6 billion yen (compared to a loss of 23.3 billion yen in the same period last year).

However, the full-year consolidated net income has downwardly by 6.4%, from the previous forecast of 78 billion yen to 73 billion yen (compared to 25.3 billion yen in the previous period), leading to a reduction in the profit growth rate from 3.1 times to 2.9 times.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 21.8% from the same period last year, reaching 59.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net loss improved to a deficit of loss of 1.7 billion yen (compared to a loss of 32.4 billion yen in the same period last year).

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	759,745	ー	35,946	23,763	141.9	51.1	Nov 10, 2022	IFRS
Apr - Sep, 2023	769,341	ー	-34,471	-23,346	-139.4	ー	Nov 8, 2023	IFRS
Apr - Sep, 2024	884,183	ー	23,736	13,667	81.6	25.0	Nov 8, 2024	IFRS
YoY	+14.9%	－	－	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	70	May 9, 2024	IFRS
Apr - Sep, 2024 Results	884,183	ー	23,736	13,667	81.6	70	Nov 8, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,250,000	ー	110,000	78,000	465.6	140	May 9, 2024	IFRS
Mar, 2025 New	2,180,000	ー	95,000	73,000	435.8	140	Nov 8, 2024	IFRS
Revision Rate	-3.1%	－	-13.6%	-6.4%	-6.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,079,946	ー	66,451	48,723	290.9	30	May 9, 2024	IFRS
Oct - Mar, 2024 Guidance	1,295,817	ー	71,264	59,333	354.2	70	Nov 8, 2024	IFRS
YoY	+20.0%	－	+7.2%	+21.8%	+21.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,725,609	ー	70,349	53,029	316.6	90	May 10, 2023	IFRS
Mar, 2024	1,849,287	ー	31,980	25,377	151.5	50	May 9, 2024	IFRS
Mar, 2025 Guidance	2,180,000	ー	95,000	73,000	435.8	140	Nov 8, 2024	IFRS
YoY	+17.9%	－	+197.1%	+187.7%	+187.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	364,001	ー	-49,437	-32,435	-193.7	0.0	Nov 8, 2023	IFRS
Oct - Dec, 2023	459,728	ー	16,540	9,866	58.9	0.0	Feb 9, 2024	IFRS
Jan - Mar, 2024	620,218	ー	49,911	38,857	232.0	0.0	May 9, 2024	IFRS
Apr - Jun, 2024	444,227	ー	25,885	15,375	91.8	0.0	Aug 6, 2024	IFRS
Jul - Sep, 2024	439,956	ー	-2,149	-1,708	-10.2	0.0	Nov 8, 2024	IFRS
YoY	+20.9%	－	+95.7%	+94.7%	+94.7%